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Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) ("Shuttle Pharma" or the "Company"), a discovery and development stage specialty pharmaceutical company focused on improving outcomes for cancer patients treated with radiation therapy (RT), today announced that it entered into a securities purchase agreement with an accredited investor for aggregate gross proceeds of $4.25 million, before deducting fees to the placement agent and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for potential acquisitions, marketing and other general corporate purposes.
In connection with the offering, the Company will issue 1,180,877 shares of common stock (or pre-funded warrants to purchase shares of common stock) at a purchase price of $3.60 per share, priced at-the-market under Nasdaq rules.
The offering is expected to close on or about June 23, 2025, subject to the satisfaction of customary closing conditions.
Posted In: SHPH
